$BTC

Bitcoin's price has taken a hit today, dropping by 4.13% to $97,890.10 ¹. This decline may be attributed to various factors, including global economic uncertainty, regulatory changes, and market volatility.

One possible reason for the decline is the current state of the global economy. With inflation rates rising and interest rates being adjusted accordingly, investors may be becoming increasingly risk-averse, leading to a decrease in demand for Bitcoin ².

Another factor that could be contributing to the decline is regulatory changes. Governments and financial institutions around the world are increasingly taking a closer look at cryptocurrencies, and this increased scrutiny may be causing some investors to become cautious ².

Market volatility is also a major factor in Bitcoin's price fluctuations. As more investors enter the market, the price of Bitcoin can become increasingly unpredictable, leading to rapid price swings

It's worth noting that Bitcoin's price has been known to be notoriously driven by sentiment, with prices often rising and falling based on market emotions rather than fundamental value